| Author | Message | ||
| Urbanator (Urbanator) New member Username: Urbanator Post Number: 1 Registered: 8-2005 |
In case you missed the article: http://www.freep.com/news/locway/high1e_20050801.h tm Through some eyes, he is honest, hardworking and Highland Park's greatest hope for an economic recovery. Through others he is still a question mark. "That's fine as far as watching," Blackwell said in his city hall office in late July. But "who were they watching before? Did they just start watching because I came?" Today, Blackwell will give a presentation to the state's Local Emergency Financial Assistance Loan Board about how well the city, which has been under state control since July 2001, has been coping with its $16-million deficit. State Treasurer Jay Rising, who is Blackwell's supervisor, declined comment on his performance so far. | ||
| Stephen Goodfellow (Admin)
Moderator Username: Admin Post Number: 7 Registered: 6-2003 |
Thanks Urbanator, Made for interesting reading. | ||
| Jan Dismay (Jan_dismay)
New member Username: Jan_dismay Post Number: 1 Registered: 8-2005 |
I like the new bozo filter? Email confirmation keeps the flies away. Stopped posting because of all the flaming going on. Thanks admin | ||
| Urbanator (Urbanator) New member Username: Urbanator Post Number: 4 Registered: 8-2005 |
Admin: That article ran August 1st... so far, no information about the presentation content or reception. Jan Dismay: AMEN! urbanator313@hotmail.com | ||
| Urbanator (Urbanator) New member Username: Urbanator Post Number: 12 Registered: 8-2005 |
Paging Mr. Blackwell... why can't the State of Michigan help Highland Park restructure her debt? http://theoaklandpress.com/stories/082705/loc_2005 0827001.shtml PONTIAC - The plan to eliminate the city's deficit and avoid a state takeover has been given the stamp of approval... The deficit reduction plan, recommended by Mayor Willie Payne and Hannan, includes an $18 million bond issue to be floated by the county on behalf of the city to obtain the best interest rate. It calls for the city to pay off the bond debt with new tax revenue generated by development in the Tax Increment Finance Authority districts. It would not raise taxes. Hannan's plan also includes a deal under negotiation with General Motors to reimburse the corporation $15 million owed from the early 1990s. It requires a lump sum payment upfront and the remainder to be paid off with increases in income and property tax revenue. The first payment would start at 10 percent of the increase in tax revenue and would grow to 25 percent. For example, if tax revenue went up by $100,000, the payment would be 10 percent of that, not a percentage of the city's total tax revenue. It would not include revenue from TIFA and the DDA districts. | ||
| Admin (Admin) Moderator Username: Admin Post Number: 23 Registered: 6-2003 |
I think the former State appointed city manager, Ramona Pearson actually restructured Highland Park's debt, but unfortunately I don't have a good grasp on the details. | ||
| Urbanator (Urbanator) New member Username: Urbanator Post Number: 14 Registered: 8-2005 |
Admin. Any idea where to locate info. re. action Pearson might have taken? Or anything more recent than Highland Park's "2004 Financials" which recommends need to restructure debt. http://cityofhighlandpark.org/docs/Financials/2004 CityofHighlandParkFinancials.pdf | ||
| Admin (Admin) Moderator Username: Admin Post Number: 24 Registered: 6-2003 |
Uh, dunno, but I've invited Ramona to answer that on the forum. |
